Martinsburg daily gazette. [volume] (Martinsburg, W. Va.) 1887-1887, 1887-03-21
WEEKLY TRADE REVIEW.
SPECIALLY REPORTED TO r. @. DUN
q CO., or NEW YORK.

Interstate Commerce Law Affecting Bust
ness Observation-Disclosures In the
Stock Observation-Disclosures in Cotton-Busi.
ness Failures for the Week.
| NEW YORK, Nj arch Dir. g. Dun & Co. 4
weekly review Of trade win say: It is be-
coming more generally realized that the in
terstate commerce bill is for the time affect
ing business unfavorably. In soma branches,
IS III the movement Of dry goods to the
I West, 4 temporary furry Of greater activ-
| ity results from the desire to transport be-
| fore the coming change o. rates But in
other trades the uncertainty as to future
rates produces almost q paralysis, which is
rendered more serious in the iron business by
the question whether railway building and
| repairing may not be checked Many
vaguely look for better understanding Of
nounced but the commissioners will have to
await the decision of many courts before
I they can know what powers they have.
Hence, it can hardly be hoped that uncer-
tainty regarding the effects Of the act will
I oon be removed
Probably the great Baltimore & Ohio ne
gotiations which causes hesitation in the
stock market, results from the passage of this
act MI. Sully does not seem to have sue
cceded, but it is generally believed that some
important consolidation of interests may be
i effected which may have important influence
4 On the future value of securities Other
events have rather favored prices on the
/ whole. European purchases are again of some
magnitude, and the danger Of monetary pres
sure this spring seems less, unless it should
come through determined effort Of individu-
/ lis: but the state of bank reserves renders
such an operation entirely possible. Foreign
xchange has declined; lower prices Of pro
iucts help to make exports large and the
Bank of England gains rapidly in specie.
Wheat declined about three cents, but Is now
recovering. Corn has fallen about one and a
4 half cents; oil has remained without important
change, and lard has declined nearly half a
eent. Cotton on the contrary, has advanced
i to ten cents, with large exports, but it is
/ thought speculative holders have embraced
the opportunity to unload. Wheat exports
\ for half Of March have been about 5, 100, 900
I bushels, including flour. But with ~, OO0, 600
/ ulshels surplus from the last crop year, the
/ sock in excess OF this years home demand,
md O4,OJl000 bushels already exported.
till IS moe than 80, OJ0, 0oJ bushels. An adj
salice in wheat rates to eighteen cents from
Minneapolis to Chicago, by the Northwest
I srn pool, instead Of seven and one-half cents,
| threatens to affect Chicago markets.
It is now definitely settled that wool, in
stead OF advancing with foreign prices, has
been forced down by the dullness in goods.
Stocks on hand are ample, and there is no
! fear of a short clip, but growers still hold ex-
pectation Of higher prices No change is
| noted in wooden goods. Distributions of cot
tons is more active as the change in freight
rates draws near, but prices are only firm,
/ and print clothes decline shade. A better
feeling is noted in boots and shoes, many
producers being pressed to meet March de
liyeries and the Massachusetts, shops steadily
increase their supply of labor. India rubber
advances, with sales of para at eighty-one
cents; the demand for goods is excellent in
New England, but less satisfactory at the
| west.
\ Another bond cali is promised but win
hardly affect the money market as only
S3, 000, 900 bonds have been offered under the
4 open calls. Redemption of trade dollars,
| thus far 1908, 1888, is far below expectations,
| indicating that current estimates were exag-
/ gerated. Silver receipts at New York rose
to Is per cent. Of total custom house receipts,
but the government has taken in 81 ZOO, 900
gold and put out 81, 2OO, 900 silver certificates
during the past week. The demand for
money is active, but the supply adequate
at Chicago and st. Louis. Rulings Of the
new bank examiner occasion some irritation,
as number of banks report less than the re-
quired ratio of reserves. It is presumed,
however, that the change in the policy Of the
department will not be so hasty as to crea te
any disturbance